Home Capital Group (HCG.TO) tried late Wednesday to reassure investors, depositors and borrowers about its future as it swung to a loss in the second quarter.

The company posted a quarterly loss of $111.1 million, or $1.73 per share. Analysts, on average, were expecting a loss of $1.54 per share. Home Capital said its bottom line was weighed down by elevated expenses, including $213.6 million (pre-tax) associated with a liquidity crisis earlier in the year.

Shares in the company were down four per cent at the market open Thursday. 

The embattled mortgage lender has been aiming to restore confidence since the Ontario Securities Commission alleged the company and three of its former executives misled investors in 2015. It's been a harrowing period since that bombshell announcement by the provincial securities regulator, which triggered a run on Home Capital's deposit base, a sharp drop in its stock price and sweeping changes to the company's board of directors.

The company took steps to stabilize the situation over a one-week span in June. First, it announced a settlement with the OSC. Then, it stunned markets by bringing the world's most famous investor into its corner on June 21. That's when Warren Buffett's Berkshire Hathaway (BRKb.N) stepped in with a $2-billion credit line to replace the company's existing emergency borrowing facility. Berkshire also agreed to invest up to $400 million in two tranches that would eventually take its stake in the lender to 38.39 per cent.

"The Company's business plan and cash flow forecast suggest that the current liquidity and credit facilities are sufficient to support ongoing business for the foreseeable future," Home Capital said in a press release late Wednesday. "Management has concluded that there is no longer material uncertainty that casts significant doubt as to the ability of the Company to continue as a going concern."

Nevertheless, skeptics aren’t willing to declare the company is out of the woods.

“Even if you take the extreme bear scenarios out of the equation, there’s no arguing with the fact that it’s still very much premature to conclude that the rainy days are behind them,” said Kash Pashootan, senior VP and portfolio manager at First Avenue Advisory, Raymond James, in an interview with BNN Thursday. 

Home Capital helped attract depositors back in recent months by sweetening interest rates, including a high-profile marketing campaign for its subsidiaries' GICs. On Wednesday, it suggested time could be running out for clients to take advantage. "The Company will look to reduce deposit interest rates to more sustainable levels in the coming months," it said.

In the lead-up to the company's second-quarter report, analysts and investors were anxious for Home Capital to provide some clarity on its new business strategy, particularly as Yousry Bissada prepares to take the reins as CEO as of Thursday. However, there was no quick answer to be found in the earnings release, as Home Capital said Bissada and the rest of management will "reassess business plans and set new strategic goals and objectives" over the coming months.

"We want to be the first choice for depositors, borrowers and brokers in the markets we serve, and over the coming months I will be fully engaged in crafting a strategy to make that happen," Bissada said in the release.